FINRA has fined H&R Block Financial Advisors $200,000 for failing to supervise their advisors selling reverse convertible notes to its retail clients.

In addition, FINRA suspended Andrew MacGill, an H&R Block [HRB] broker, for making unsuitable sales of these notes to a retired couple, and ordered the firm to pay $75,000 in restitution to the couple for the losses they suffered.

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